Audio By Carbonatix
Migrants often make international payments to support their families back home. Now these important transfers have declined dramatically amid the global coronavirus outbreak.
Sunil N. is desperate. The polyglot tour guide from Sri Lanka used to show visitors from Germany and elsewhere around his island. But previous crises have hurt the tourist industry, and the coronavirus pandemic now means he has no source of income. "We are skipping meals," he told DW by email.
Sunil says the government has imposed another curfew, because the virus is spreading again, which means "we don't have money to buy groceries, we have become beggars." With Sri Lanka's tourist sector hit hard by the pandemic, Sunil and his family depend on money sent from friends abroad.
But that might be a problem, because according to World Bank spokesperson Alexandra Klopfer Hernandez, global remittances have dropped recently. "There was a sharp decrease in payments during April and May following the lockdown," she said.
While a certain increase occurred in June and July, Hernandez remains pessimistic about the future: "We predict a further decline of remittances because of high global unemployment among migrants and the economic crisis."
As early as spring, the World Bank was projecting that the pandemic would cause a 20% drop in remittances. In 2019, remittances worth $554 billion (€473 billion) were transferred by migrants to their families back home — $133 billion of which was sent from Europe.
Latest Stories
-
GPL 2025/26: Asante Kotoko beat Eleven Wonders to go third
30 minutes -
Algerian law declares France’s colonisation a crime
51 minutes -
Soldiers remove rival Mamprusi Chief Seidu Abagre from Bawku following Otumfuo mediation
1 hour -
Analysis: How GoldBod’s operations led to a $214 million loss at the BoG
1 hour -
Why Extending Ghana’s Presidential Term from Four to Five Years Is Not in the Interest of Ghanaians
1 hour -
Young sanitation diplomat urges children to lead cleanliness drive
2 hours -
Energy sector shortfall persists; to balloon to US$1.10bn in 2026 – IMF
2 hours -
Gov’t secures $30m Chinese grant for new university of science and technology in Damongo
2 hours -
Education Minister commends St. Peter’s SHS for exiting double-track, pledges infrastructure support
2 hours -
ECG to be privatised – IMF reveals in Staff Report
2 hours -
Accra Unbuntu Lions Club impacts 500,000 Ghanaians in 5 years of social service
2 hours -
VALCO Board holds maiden strategic meeting with management
2 hours -
African Festival: Nollywood star Tony Umez joins Nkrumah musical in Accra
3 hours -
U.S. lawyer suggests GRA–SML case is politically motivated; says Ofori-Atta isn’t evading justice
3 hours -
Ghana’s financial sector stability sustained but risks remain – IMF
3 hours
